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Bristow Group (VTOL) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Bristow Group (VTOL) Q3 2026 earnings results →

Q3 2026 Revenue up 13% year over year to $438M · 6¢ of every $1 of revenue kept as net profit · operating margin 10.9%

Bristow Group made $438M in Q3 2026 (+13% Y/Y). Operating margin 10.9%, net earnings $27.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$438M
Year over year+13%
Operating margin10.9%
Net earnings$27.8M
Operating cash flow$61.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $437.9M in Q3 2026, up 13% year over year and up 6% from the previous quarter.

Operating profit was $47.7M, a 10.9% margin (down 2.2 points year over year). Operating profit fell $2.8M even though revenue rose $51.6M versus Q3 2025, so costs grew faster than sales. Total costs grew 16% against revenue growth of 13%. The fastest-growing cost line was General & admin (+18%). Net earnings were $27.7M, down 46% year over year. The effective tax rate was 24.8%.

Operating cash flow was $61.2M (up 165% year over year), 220% of net earnings. Non-cash charges added back $33.5M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items used $4.3M. After maintenance capital expenditures ($5.1M), free cash flow as the company reports it was $56.0M.

Quarterly history

Bristow Group revenue by quarterBristow Group revenue by quarter$351MQ1 2025$376MQ2 2025$386MQ3 2025$377MQ4 2025$389MQ1 2026$412MQ2 2026$438MQ3 2026
Bristow Group net earnings by quarterBristow Group net earnings by quarter$27.4MQ1 2025$31.8MQ2 2025$51.6MQ3 2025$18.7MQ4 2025$13.1MQ1 2026$21.2MQ2 2026$27.8MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$438M+13%10.9%$27.8M$61.2M
Q2 202610-QAug 5, 2026$412M+9%9.6%$21.2M$41.1M
Q1 202610-QMay 6, 2026$389M+11%8.9%$13.1M−$8.2M
Q4 202510-KFeb 26, 2026$377M+7%8.5%$18.7M$76.9M
Q3 202510-QNov 5, 2025$386M+6%13.1%$51.6M$23.1M
Q2 202510-QAug 6, 2025$376M+5%11.3%$31.8M$99.0M
Q1 202510-QMay 7, 2025$351M+4%9.6%$27.4M−$603K

Charts

Bristow Group: revenue growth, year over year and quarter over quarterBristow Group: revenue growth, year over year and quarter over quarterY/YQ/Q+4%Q1 2025+5%+7%Q2 2025+6%+3%Q3 2025+7%-2%Q4 2025+11%+3%Q1 2026+9%+6%Q2 2026+13%+6%Q3 2026
Latest (Q3 2026): Y/Y +13%, Q/Q +6%.
Bristow Group: where the cash came from (+) and went (−), TTM to Q3 2026Bristow Group: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$171MCapital spending−$159MOther investing−$103MNet borrowing (+) / repaid (−)$78.2MAsset & business sales$51.2MBuybacks−$42.2MOther financing−$23.5MCash drawn (+) / kept (−)$14.9MExchange rates$11.4MShares issued$593K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Bristow Group: profit against cash, quarter by quarterBristow Group: profit against cash, quarter by quarterNet incomeOperating cash flow$31.8M$51.1MQ4 2024$27.4M−$603KQ1 2025$31.8M$99.0MQ2 2025$51.6M$23.1MQ3 2025$18.7M$76.9MQ4 2025$13.1M−$8.2MQ1 2026$21.2M$41.1MQ2 2026$27.8M$61.2MQ3 2026
Latest (Q3 2026): Net income $27.8M, Operating cash flow $61.2M.
Bristow Group: diluted shares by fiscal yearBristow Group: diluted shares by fiscal year21MFY201928MFY202228MFY202330MFY202430MFY2025
+42.2% since FY2019: more shares outstanding (issuance, stock pay).
Bristow Group: long-term debt falling due (FY2025)Bristow Group: long-term debt falling due (FY2025)$27.9M2026$27.9M2027$428M2028$27.9M2029$27.9M2030$144MLater
Cash $286M, short-term investments —, long-term debt $671M at 2025-12-31.
Bristow Group in its industry: growth against margin (7 companies, SIC 4522)Bristow Group in its industry: growth against margin (7 companies, SIC 4522)revenue growth, year over year →↑ operating marginmedian +13%median -44%UPFLYXSRFMJTAISOARCRTDVTOL (+13%, 11%)
Air Transportation, Nonscheduled; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Bristow Group

Unless the context indicates otherwise, the terms “we,” “our,” “ours,” “us”, “Bristow Group” and the “Company” refer to Bristow Group Inc. and its consolidated subsidiaries. Bristow Group Inc. was incorporated in 1999 in Delaware. Our common stock, par value $0.01 per share (the “common stock”), is traded on the New York Stock Exchange (“NYSE”) under the symbol “VTOL”. Bristow Group’s principal executive office is located at 3151 Briarpark Drive, Suite 700, Houston, Texas 77042, and our telephone number is (713) 267-7600. Our website address is www.bristowgroup.com . The reference to our website is not intended to incorporate the information on the website into this Annual Report on Form 10-K.

In its own words, from its 10-K, filed Feb 26, 2026.

Bristow Group against its Air Transportation, Nonscheduled peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +13%. Operating margin: 10.9% against the peers' median -43.8%.

CompanyQuarterRevenueY/YOp. margin
VTOL Bristow GroupQ3 2026$438M+13%10.9%
UP Wheels Up ExperienceQ3 2026$165M-11%-30.5%
FLYX FlyexclusiveQ2 2026$111M+22%-5.2%
SRFM Surf Air MobilityQ3 2026$36.5M+25%-43.8%
JTAI Jet.AIQ2 2026$5.3M+139%-50.4%
SOAR Volato GroupQ2 2026$965K-96%-261.1%
CRTD CreatdQ2 2026$174K-12%n/m

Source: Bristow Group 10-Q on SEC EDGAR · CIK 1525221 · Air Transportation, Nonscheduled

Guidance and outlook

Bristow Group: what its forward-looking statements are about (10-Q filed 2026-11-04)Bristow Group: what its forward-looking statements are about (10-Q filed 2026-11-04)Other2Financing2Demand1Supply chain1
6 statements; tone +0.00 (−1 all cautious, +1 all confident); 1 hedged.
Bristow Group: outlook statements against the filing beforeBristow Group: outlook statements against the filing beforeConfident1Cautious1

13F: who owns VTOL and who is buying

Largest holders of VTOL (13F)Largest holders of VTOL (13F)BlackRock$162MSolus Alternative Asset Managemen…$119MVanguard Group$75.3MDimensional Fund Advisors LP$74.7MSouth Dakota Investment Council$66.3MBrown Advisory$53.0MState Street$46.4MVanguard Capital Management LLC$46.1MEmpyrean Capital Partners, LP$44.1MTaconic Capital Advisors LP$43.9M
Funds' net buying of VTOL by quarter (13F)Funds' net buying of VTOL by quarter (13F)−$13.7M2024-09−$23.4M2024-12−$1.0M2025-03$13.8M2025-06$4.0M2025-09$15.5M2025-12$15.8M2026-03$19.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on VTOL

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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